Ruffer Investment Co Ltd - Investor aiming for positive total annual return of at least twice the Bank of England base rate, which currently stands at 3.50% - Net asset value per share on December 31 on an IFRS basis grows to 307.77 pence, up 4.3% from 294.98p a year prior. Reported NAV per share on December 31 climbs 4.9% to 307.857p from 293.36p. Says half-year to December 31 total return increases to 4.8% from 2.8% a year ago. Dividend over six months to December 31 falls 19% to 1.25p per share from 1.55p a year prior.
Looking ahead, Ruffer cites Morris Chang, the founder of chipmaker Taiwan Semiconductor Manufacturing Co: "Globalisation is almost dead and free trade is almost dead. A lot of people wish they would come back, but I don't think they will be back." Ruffer adds that "the inflationary destination remains crystal clear", meaning upward.
Current stock price: 312.01 pence, up 0.2% on Monday
12-month change: up 2.0%
By Tom Budszus, Alliance News reporter
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Ruffer (RICA)